SAN FRANCISCO, Feb. 11, 2013 /PRNewswire-iReach/ -- Business Insider has recently shed light on the "hottest" luxury real estate markets across the United States. San Francisco joins New York, Los Angeles, Miami, and Washington, DC on this collection of growing markets in the luxury real estate industry. Thea Miller, a sales and marketing professional who specializes in luxury properties, comments on the growth of the San Francisco market.
"As the Bay Area's housing market continues to heat up once again, it's catching the attention of the media—and it is shining a spotlight on the rebound that the market is making," comments Thea Miller. "In a front-page story in the Chronicle, titled 'Bay Area Home Sales, Prices Surging,' reporter Carolyn Said explores the extremely strong housing numbers that were released by DataQuick, which is a La Jolla-based information services company. She has examined the catalysts of the housing turnaround. DataQuick, in its monthly report, asserts that the median sale price for Bay Area properties in December rose to $442,750, a stunning 32 percent increase from a year ago and the largest jump in 25 years of record keeping."
Miller goes on to explain that, according to the article, sales increased year-over-year for the 18th month in a row, ultimately climbing 4.5 percent in just the last month. She cites CaliforniaMoves.com data reporting that San Francisco and Santa Clara County achieved double-digit sales growth year over year with 29.5 percent and 13.1 percent increases, respectively.
"It's good to see that Bay Area news and other media are on top of this story, but what's especially gratifying is that they're getting out the message that we have a severe shortage of homes for sale in the region and sellers are getting good prices for their homes once again," asserts Miller. "My hope is that homeowners who have been sitting on the sidelines will begin to realize that this market presents a tremendous opportunity for them to get top dollar for their home. Right now, it's a red-hot seller's market. But as we know, it won't always be that way. If traditional patterns apply this year, there will be some added inventory in March and April. This will bring more opportunities for buyers, but it will also incite additional competition between sellers, compared to the way the market stands today."
Miller encourages any individuals who are contemplating selling a luxury property in the Bay Area to contact a qualified professional to discuss the value of putting their homes on the market while conditions are still in their favor.
Thea Miller is a luxury property specialist. With over two decades of experience, Thea Miller guides her clients through the market in San Francisco, California. Thea Miller provides a high degree of customer support while paying close attention to detail and providing insight regarding local property values and activities. She is a member of The National Association of Realtors, The San Francisco Association of Realtors, The California Association of Realtors, Who's Who in Luxury Real Estate, and Top Agent Network, of which she is a verified member.
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SOURCE Thea Miller